Newspaper article The Canadian Press

Liberals Move to Write off $178 Million in Unpaid Federal Student Loans

Newspaper article The Canadian Press

Liberals Move to Write off $178 Million in Unpaid Federal Student Loans

Article excerpt

Feds write off $178 million in student loans

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OTTAWA - The federal government for the second year in a row is writing off millions in student loans it will never collect, this time to the tune of $178.4 million.

The money represents 32,554 loans that federal officials believe they will never be able to collect, either because a debtor may have filed for bankruptcy, the debt itself has passed a six-year legal limit on collection, or the debtor can't be found.

Last year, the government wrote off 33,967 loans totalling $176 million.

Federal officials have increased their efforts in recent years to collect outstanding student loans after watching write-offs hit $312 million in 2012 and $295 million in 2015.

The previous Conservative government ordered officials to ramp up collection efforts in order to bring the write-offs under control. …

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